Zoom Video Communications (NASDAQ:ZM) Receives “Buy” Rating from Rosenblatt Securities

Zoom Video Communications (NASDAQ:ZM)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They presently have a $95.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 25.91% from the stock’s previous close.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group increased their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Benchmark restated a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Barclays reduced their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Stock Performance

ZM stock opened at $75.45 on Wednesday. Zoom Video Communications has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a market cap of $23.03 billion, a P/E ratio of 25.15, a PEG ratio of 5.48 and a beta of 0.26. The stock’s 50 day moving average price is $80.20 and its 200 day moving average price is $77.80.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 in the last ninety days. Insiders own 10.78% of the company’s stock.

Institutional Trading of Zoom Video Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its holdings in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after buying an additional 52,039 shares during the period. Merit Financial Group LLC bought a new stake in Zoom Video Communications in the 4th quarter valued at about $1,072,000. Eagle Asset Management Inc. bought a new stake in Zoom Video Communications in the 3rd quarter valued at about $62,038,000. State Street Corp increased its position in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares during the period. Institutional investors own 66.54% of the company’s stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.